The payment flow route

PAY.'s payment process

The payment flow route

The PAY. payment process is set up in such a way that the payout to our clients is always guaranteed. This is made possible by the fact that the funds are paid out via Stichting Pay.nl. Before our clients (also known as merchants) receive the funds, the funds always make a short stopover at Stichting Pay.nl first. This ensures that consumers can always pay safely online. By the time our clients receive the funds, the funds have passed through a number of stages on their route.

A payment guarantee; one of the benefits of online payments without hassle.

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1. Starting point

The journey of the funds starts with the consumer. This is the starting point of the payment flow route. The consumer decides to buy a product or service via a webshop or website. The consumer then wants to pay for the product or service. The website offers a choice between different payment methods. The payment method chosen by the consumer determines the route of the funds. Some payment solutions we facilitate reach Stichting Pay.nl via a slight detour. The most popular bank payment solutions follow the shortest route. An example of this is the payment method iDEAL. In this example we describe this route step by step.

2. The bank hub

The consumer has selected the payment method iDEAL for completion of the payment via the webshop or website. The consumer then selects the bank for making the payment. The bank receives the consumer's order to complete the payment and sends the money to its next destination.

3. Stopover at Stichting Pay.nl

After the consumer has instructed the bank to make the payment, the money is sent from the bank to Stichting Pay.nl. The money is held here until the time it can be transferred to the merchant. Stichting Pay.nl manages a third-parties’ account where all payments are received. For this reason it must meet the strict regulations of the Dutch Central Bank.

4. Final destination

The merchant, the final destination in this route, can indicate when they wish to receive the paid funds. PAY. can forward the funds to the merchant every working day, week or month. If the merchant does not indicate a term, funds are automatically transferred weekly. In that case the merchant will receive the funds for payments made in the week before on the next Monday (for example, the funds for payment made in week 16 are transferred in week 17). This is how the funds reach the final destination of the payment flow route.

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